Okay Bears, the popular Solana NFT project that was featured on Web3 in April, is gearing up for its first community airdrop. Although every airdrop is fascinating in its own right, Okay Bears’ first offering is taking things to the next level by distributing NFTs that can be redeemed for physical gold or cryptocurrency.
The collection, dubbed ‘Founders Coins,’ has 10,000 assets (the same size as the Okay Bears collection) that have been arbitrarily assigned a gold weight of 0.25, 0.5, 1, 5, or 10 grams. Each additionally includes a mix of hand-drawn elements inspired by the original collection.
Holders will be able to redeem the NFTs in order to receive their assigned gold in Q4 of this year, with the current price of the primal luxury asset being $56.50 per gram. That being said, because 10 grams is the smallest amount of gold that may be received, those who own an NFT with less than 10 grams of gold attached to it can redeem it and receive the corresponding monetary value in either $SOL or $USDC. The asset will be incinerated upon an NFT redemption.
To reduce the danger of scams, Founders Coins will be transferred straight to holders’ wallets. They will also be embedded with a 5% royalty sharing dynamic, in which any sales made within the first eight weeks of their existence will see a percentage of the earnings donated to the Okay Bears charity named Okay Cares. The Okay Bears community will be able to vote on how the monies will be given to organizations in the near future.